(1) As used in this section, unless the context otherwise requires:
"Animal trust" means a trust or an interest in a trust created to provide for the care of one ormore animals.
"Protector" means a person listed under section 15-11-901 (3)(d) with authority to enforcethe trust on behalf of the animal.
The decanting power may be exercised over an animal trust that has a protector to the extentthe trust could be decanted under this part 9 if each animal that benefits from the trust were an individual, if the protector consents in a signed record to the exercise of the power.
A protector for an animal has the rights under this part 9 of a qualified beneficiary.
Notwithstanding any other provision of this part 9, if a first trust is an animal trust, in anexercise of the decanting power, the second trust must provide that trust property may be applied only to its intended purpose for the period the first trust benefitted the animal.
Source: L. 2016: Entire part added, (SB 16-085), ch. 228, p. 888, § 1, effective August 10.